HSBC China Services PMI falls to 52.1 in February from 54 in January, echoing the decline in the...
HSBC China Services PMI falls to 52.1 in February from 54 in January, echoing the decline in the official index. HSBC economist Qu Hongbin attributed the fall partly to a clampdown on wasteful government spending and possibly on the timing of the Chinese New Year. Qu expects the service sector to continue its modest improvement in the coming months, "thanks to healthy labor market conditions and the ongoing recovery of manufacturing. (PR)
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